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29-10-2007
China
aims to increase exports of automobiles and its components to US$70 billion by
the end of 2010, said an official with the Ministry of Commerce. In the first
nine months of 2007, China exported more than 300 thousand units of autos, surpassing
the total export volume of 2005, and now exports to 207 countries and regions,
China Automotive News reported. From
2000 to 2005, China averaged 40 percent growth in auto and spare parts export
volume per year, with exports of complete vehicles growing at 70 percent per year.
Last year, the country's auto and auto parts exports hit US$10.9 billion, up 34
percent on the previous year. However, to put this impressive growth into perspective,
it needs to be remembered that China's market share in the world and automobile
components exports is less than 1 percent. Hence, it still has long way to go
for China auto and spare parts industry.
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